LERMAN LAW FIRM REQUESTS ASSISTANCE FROM WHISTLEBLOWERS WITH EVIDENCE OF SELF-DIRECTED IRA CUSTODIANS FACILITATING PONZI SCHEMES

  REQUEST FOR ASSISTANCE FOR VICTIMS OF PONZI SCHEMES FACILITATED THROUGH SELF-DIRECTED IRAs

The SEC has launched an investigation into the activities of purported Self-Directed IRA Custodian Equity Trust. However, the issue of Self-Directed IRA Custodians facilitating fraudulent investment schemes and Ponzi schemes is an industry issue not limited to Equity Trust.  The Lerman Law Firm is requesting that all whistleblowers and witnesses with direct knowledge and information concerning Self-Directed IRA Custodians facilitating, aiding, abetting, advertising, soliciting for, and promoting fraudulent investment schemes contact Cathy Lerman at 954-332-1143.  All information provided will remain confidential.

We know there are many former employees of Self-Directed IRA Custodians who are aware of their wrongful conduct and the devastating losses incurred by their customers through fraudulent investments funded through Self-Directed IRAs.  It is time to help these thousands of people by supplying the information necessary to bring all of the Self-Directed IRA Custodians, who helped fraudsters swindle their own customers, to justice.

Please contact Cathy Lerman at 954-332-1143 to provide assistance to these victims and aid in prosecution of these Self-Directed IRA Custodians.

EQUITY TRUST EMPLOYEE STEALS FROM THEIR CUSTOMERS

http://www.fbi.gov/minneapolis/press-releases/2013/sioux-falls-man-pleads-guilty-to-wire-fraud As all of you know, I am not a fan of Self-Directed IRAs. I am not a fan because the administrators and custodians that "manage" them actually do very little, charge hefty fees and use their adhesion contracts to negate any liability on their part- even for fraud.  So you can imagine my surprise when I read the above story about an Equity Trust employee in South Dakota who through the knowledge gained working at Equity Trust assumed the identity of Equity Trust customers and took their money!

How in the world could that happen? Because if you read Equity Trust's website you will see that they are compliant, secure, have the best employees and are heavily regulated.  Yet their own employee took the retirement monies of their customers and they processed the transactions!

If I were an Equity Trust customer, I would be very, very concerned about my account.

The cases that I deal with concern Ponzi schemers who perpetuate investment fraud through Self-Directed IRAs.  But this story takes it to a whole new level.

And those of you who still  have money left or a viable investment at Equity Trust- should take this as a warning.  All the best, Cathy

 

IF YOU ARE THE VICTIM OF A PONZI SCHEME AND USED A SELF-DIRECTED IRA FOR YOUR INVESTMENT READ THIS

As you know, our law firm, along with a team of various firms across the country, are filing lawsuits against custodians/administrators of Self-Directed IRAs ("SDIRA"). These lawsuits are based upon allegations that the SDIRA Custodians/Administrators  facilitated, protected, extended the life of and, in some cases, actually participated in the Ponzi schemes.  I have personally received emails and phone calls from hundreds of victims across the United States who are seeking legal representation for hundreds of Ponzi schemes of which they are victims.  Most are elderly victims who lost their life savings. Our legal team has been deluged with requests by victims who want to serve as class representatives for one of our class actions against these SDIRA custodians/administrators.  At this time we are maintaining a database of class representatives.  However, we cannot guarantee a specific time in which we will be able to file cases on behalf of all of these victims which run into the tens of thousands.

So I wanted to make sure all of you who are victims take action to make sure that state and federal authorities are aware of these Ponzi schemes and the custodians who were involved.  All of you who are victims of a Ponzi scheme or fraudulent investment scheme involving a SDIRA should do the following:

1. Go the SEC website, www.sec.gov.,  go to sec.gov/complaint.  You will see a link for an online complaint form or an address and fax number to send in your complaint.  There is a team of SEC investigators who are assigned to intake these complaints and review them.  The more victims that file complaints the more likely it is that your complaint will be investigated.  I encourage everyone to do this immediately.

2. Google your state securities regulators.  Go to their website. Most have an online complaint form. If not, call them and find out how to file a complaint. But file complaint!

3.  File a complaint with your state Attorney General.  All state AGs have complaint forms that can be sent online, via fax or via mail.

4.  Write your state and federal legislators and tell them your story.  We must adopt stricter laws governing these Custodians/Administrators and they need strict scrutiny by a regulatory body that can impose both civil and criminal sanctions on them, their officers and directors for their participation in Ponzi schemes and fraudulent investment schemes.

BUT YOU MUST FILE A COMPLAINT IN ORDER TO GET THE ASSISTANCE OF ONE OR MORE OF THESE AGENCIES.  FILE A COMPLAINT WITH ALL OF THEM.

GOOD LUCK AND JUST KNOW THAT OUR TEAMS ARE WORKING DILIGENTLY TO BRING THESE SDIRA CUSTODIANS/ADMINISTRATORS TO JUSTICE BUT THEY HAVE BEEN ABLE TO GET AWAY WITH THIS FOR DECADES. 

UNFORTUNATELY THE COURTS HAVE BEEN FOOLED INTO BELIEVING THAT THEY REALLY ACT AS "PASSIVE CUSTODIANS" AND HAVE PERMITTED THEM TO  ESCAPE LIABILITY FOR THEIR OWN FRAUD AND WRONGDOING THROUGH THEIR SDIRA CONTRACTS .

SDIRA CUSTODIANS/ADMINISTRATORS ARE THE ONLY COMMERCIAL INDUSTRY IN THE UNITED STATES THAT HAVE BEEN PERMITTED TO CONTRACT AWAY THEIR OWN LIABILITY FOR FRAUD, INVESTMENT FRAUD, AIDING AND ABETTING PONZI SCHEMES, CHARGING ILLEGAL AND EXCESSIVE FEES, FAILURE TO PERFORM THE SERVICES SPECIFIED IN THEIR CONTRACTS, VIOLATION OF THE IRS CODE, PERJURY IN THE FILING OF IRS DISCLOSURES, ETC. 

IF YOU WANT THIS TO STOP YOU MUST SPEAK UP!

REQUEST FOR INFORMATION ON ALL SELF-DIRECTED IRA CUSTODIANS

First of all, a big thank you to everyone that has contacted our legal team to provide information on the operating policies and procedures of Self-Directed IRA (SDIRA) custodians.  You may not be aware of the fact that the first cases that have been filed in California by our legal team are not the only cases to be filed. We intend to pursue every major player in the Self-Directed IRA Custodian industry. So if you have information about ANY SDIRA Custodian that involves unfair and deceptive trade practices as well as financial abuse of the elderly or minorities- please contact me immediately either via email at clerman@lermanfirm.com or by phone at 954-663-5818. Together we can stop the growing trend of Fraudsters attacking the elderly and others and swindling them by using SDIRAs as the investment vechicle.  The Ponzi Schemers and investment fraud will come to a screeching halt when this industry starts doing its job and protecting and warning its customers.  Thank you all so much for your prayers, support and words of encouragement. It means a great deal to me and the rest of this outstanding legal team who are very proud to take on this fight for justice for the thousands of victims of investment fraud facilitated through the use of SDIRAs.  Thanks, Cathy